Well, it turns out that visual inheritance
is there in
VB 2005 Express - it's just the inheritance picker that's unavailable.
You can do it manually, by creating a new class file, typing "inherits xxxform" at the top, and lo an behold, you get a visual interface for your class that you can add to.
This is the reference...
ms-help://MS.VSExpressCC.v80/MS.NETFramework.v20.en/dv_mancli/html/cb3e1c0f-3d2a-4cdc-b0d1-c92eae567ffb.htm
The "Inheritance Picker" link gives more of the options.